Posts Tagged foreign financial institutions

by Brian Mahany It seems like every week we are reporting on another country that is poised to join FATCA. For those that don’t know, FATCA is short for the Foreign Account Tax Compliance Act. Passed by Congress several years ago, the act requires foreign financial institutions to identify and disclose the identities of account [...]

by Brian Mahany Anyone reading this blog knows that U.S. taxpayers possessing or having signature authority over foreign financial assets must file a Report of Foreign Bank and Financial Accounts or “FBAR.” (If you are unsure if you have an FBAR filing requirement, give us a call or use the search bar in the upper [...]

by Brian Mahany I vividly remember a job application for a summer job at an oil refinery many years ago. One of the questions was, “Are you addicted to or take illegal narcotics?” You don’t have to be the brightest to work in a refinery but they didn’t clearly were concerned about stoners working around [...]

by Brian Mahany With the some 50 countries ready to sign information exchange agreements with the United States and recent changes to some key FATCA dates, we thought it would be helpful to list critical dates. FATCA, for those who still haven’t heard of the new law, stands for the Foreign Account Tax Compliance Act. [...]

by Brian Mahany Never a week goes by without more countries signing tax exchange agreements. Recently, many of those countries have been signing agreements with the United States Treasury. In 2014, foreign banks are required to disclose the identities of Americans with foreign accounts. While some countries have publicly rallied against the new regulations, they [...]